10/07/2015

Friends of Our Lady of Peace Fundraising Campaign

We need your help! The time has come for us to show the Congregation for the Clergy at the Vatican just how serious we are about reopening Our Lady of Peace.

Contrary to what Cardinal Dolan would have the Vatican believe: our church was not “half-empty” – it was 76% full, attendance was growing at a rate of 7% per year; our church was solvent; and our community of faith remains vibrant!

I can think of no greater shame than to stand by idly as the Archdiocese closes the church that welcomed me with arms wide open. I proposed to my wife inside Our Lady of Peace. Father Daly flew down to Texas to wed my wife and me. And I was confirmed through Our Lady of Peace’s RCIA process. If you too have been blessed by our church, then I implore you to join with me in donating to Friends of Our Lady of Peace to help us reach our goal of raising $500,000 to keep our church open.

To date, we have raised more than $460,000, and with your help, we will achieve our goal.

Know that your contribution will not be in vain. We need to raise this money to show the Congregation for the Clergy that we have the means to maintain our church for the next ten years. This includes keeping the church in good repair; buying flowers and candles to keep Our Blessed Lady of Peace beautiful; purchasing pamphlets and sashes and Pop-Up Popes to spread our message of faith; and paying legal expenses to continue fighting the good fight so that we can continue our appeal to the Vatican-- so that we can strive until the very end to stay open.

Time is of the essence. Now that the Pope has returned from his visit to New York, there is a very real possibility that the Vatican will rule on our appeal in the coming weeks. Cardinal Dolan will be in Rome for the Synod of the Bishops starting on October 4th. We believe he will use this visit as an opportunity to press his case that our church ought to be closed. It is imperative that we submit new information as part of our appeal process showing that we have raised enough money to salvage our church.

We not only need to raise $500,000, we need to do it quick, and in large numbers. Please give whatever you can, even if it is only a small donation. An extra name on the list of donors could be the difference between our nearly 100 year old church closing forever or staying open!

As an added incentive, I will be matching contributions dollar for dollar. That means if we are able to raise just $250,000, I will match up to the other $250,000 and we will hit our $500,000 target.[1]

Because the ultimate resolution of our appeal process is uncertain, we have devised two options for those who would like to donate:

Option 1: Donate Directly to Friends of Our Lady of Peace, Inc. For those of you opting to give less than $1,000, we recommend that you give directly to the non-profit organization, Friends of Our Lady of Peace, Inc. You can give directly to our organization by writing your check out to “Friends of Our Lady of Peace, Inc.” and sending it to:

All donations of $20 or more will receive a receipt for tax deduction purposes.

Option 2: Donate to the Friends of Our Lady of Peace Escrow Account For those looking to donate more than $1,000, you have the option of putting your money in the Friends of Our Lady of Peace escrow account. The benefit of the escrow account is that some or all of your money will be returned to you if our appeal to the Vatican is ultimately unsuccessful. The reasoning for this is straightforward: it doesn’t make sense to raise $500,000 to support the church for ten years if the Vatican sides with the Cardinal in the next year and stands by as our church is closed.

To the extent any funds in the escrow account are needed to fund our legal or other expenses, money will be transferred pro rata based on gross contributions to the escrow at the time the expense is incurred to the non-profit organization per the terms of an escrow agreement (overseen by the Board of Directors of Friends of Our Lady of Peace).

For example, if ten people gave $10,000 to the escrow, there would be $100,000 in escrow. If, at that point, $20,000 were needed from the escrow to fund expenses, then each donor would give $2,000 to Friends of Our Lady of Peace. Assuming there were no additional expenses incurred, if the church were then closed in the example above, the remaining $8,000 of each $10,000 donation would be returned from the escrow account to each individual donor. Please note that monies given directly to Friends of Our Lady of Peace, Inc. as outlined in Option 1 cannot be returned.

If you are interested in donating through the escrow account, please let me know and I will provide you with a copy of the Escrow Agreement for your review and a Joinder Agreement relative to the Escrow Agreement. The bank administering our account will require that you sign the Joinder Agreement, whereby you agree to the terms of the Escrow Agreement, before your donation can be accepted for deposit in the escrow account. Donations to the escrow account should be made out to “Friends of Our Lady of Peace, Inc., Signature Bank as Escrow Agent” and sent to:

Friends of Our Lady of Peace 1173-A Second Avenue New York, NY 10065

Checks should be sent along with the signed Joinder Agreement. Please remember that donations to the escrow account cannot be accepted without the signed Joinder Agreement.

I have personally covered all fees associated with the escrow account. This means that all of your donations will be used 100% for fighting to preserve and save our beloved church. If you have any questions about the escrow option, please do not hesitate to contact me at shane.dinneen@gmail.com.

Finally, please note that Friends of Our Lady of Peace, Inc. received its 501(c)(3) tax-exempt status on January 26, 2016. This means that donations made to the organization (either directly through Option 1; or, with respect to Option 2, the amount of funds attributable to the respective donor that are actually transferred from the escrow account to the organization) will be tax deductible to the fullest extent permitted by law. Anyone considering making a donation through either option outlined above should consult with their tax advisor to discuss the deductibility of their donation.

Let’s show the Archdiocese the true meaning of “Making All Things New”!

With renewed gratitude and hope for the future,

Shane Dinneen

President, Friends of Our Lady of Peace, Inc.

Friends of Our Lady of Peace, Inc., is registered with the New York State Attorney General’s Charities Bureau. The organization’s first annual report will be filed with the Charities Bureau by November 15, 2016 and, once filed, may be obtained from Friends of Our Lady of Peace, Inc., 1173-A Second Avenue, New York, New York 10065, or the NY State Attorney General’s Charities Bureau, 120 Broadway, 3rd Floor, New York, New York 10271.

[1] Total matching donations are for a total of up to $250,000 and have already been contributed to Friends of Our Lady of Peace, Inc.